Billionaires today hold more wealth than ever before but how is that wealth actually created? Global data reveals a clear trend: two-thirds of the world’s ultra-rich built their fortunes themselves, while one-third inherited theirs. The gap between countries is striking.

As of June 2025, a total of 2,838 billionaires were counted worldwide, according to Forbes. Of these, 67% are considered self-made, while 33% inherited their wealth. Behind this global average lies a wide spectrum, from nearly total self-made wealth to almost complete dynastic transfer.

Hotspots of Self-Made Wealth

Leading the ranks of countries with the highest share of self-made billionaires are China and Russia, each with a staggering 97% self-made rate. In the United States, home to the largest number of billionaires globally, 73% of the ultra-wealthy amassed their fortunes on their own.

Similarly high shares are found across various Asian economies, including Indonesia, Taiwan, and Israel. These countries often foster dynamic startup cultures, technological disruption, and comparatively lower barriers to entrepreneurial success.

Europe’s Dynastic Wealth

The picture looks very different across much of Europe. In Germany, for instance, only 25% of billionaires are self-made. The numbers in Spain (26%) and Italy (36%) tell a similar story. Countries like Belgium and Mexico also reveal a strong dominance of inherited wealth, with just 27% classified as self-made.

These figures point to deeply rooted ownership structures and a concentration of wealth within families, often old business dynasties whose fortunes have been passed down through generations.

Wealth and Fairness in a Global Context

Between 2024 and 2025, the total wealth of all billionaires increased by 13.4%. But as fortunes grow, a more pressing question emerges: how are these fortunes made? Whether wealth is earned or inherited shapes public perceptions of merit and fairness.

In places where self-made success is more common, there tends to be greater faith in social mobility. Where wealth is passed down almost exclusively through inheritance, a sense of economic exclusion often takes hold, along with the potential for political and social tension.

Conclusion

Global comparisons reveal a simple truth: not all wealth is created equal. In some countries, fortunes are built through ambition and innovation; in others, they are preserved through inheritance. The origin of wealth has become a powerful indicator of opportunity and a warning sign for the health of democratic societies.

Sociologist Prof. Dr. Thomas Druyen notes: “Inheritance has become one of the most effective shortcuts to power.” When wealth is passed down rather than earned, trust in fairness declines. The social contract begins to crack.

Where young generations believe success is attainable through effort, ambition thrives. But when economic mobility feels out of reach, frustration grows. “When people feel they can’t move up no matter how hard they try,” Druyen warns, “the appeal of radical political alternatives increases.”

In the end, the most decisive divide may not be between rich and poor, but between systems that offer open pathways to success and those that entrench privilege. Which path a country chooses won’t just shape its economy. It will shape its future.

Methodology

The data underlying this analysis was extracted from the Forbes World’s Billionaires List as of June 2025. For each billionaire, we captured their reported net worth, country of citizenship, and primary source of wealth.

Wealth Classification

Each individual was categorized as either Self-Made or Inherited based on the “self-made” attribute published by Forbes. This classification is part of Forbes’ broader self-made scoring system, which ranges from 1 (entirely inherited wealth) to 10 (entirely self-made). For clarity and international comparability, we grouped individuals into a binary classification:

• Self-Made: Scores of 7–10 (those who primarily built their fortune)

• Inherited: Scores of 1–6 (those who inherited some or all of their wealth)

  See Forbes’ full explanation of their scoring here: Forbes Self-Made Score Guide

Cross-Verification

To improve classification accuracy, we cross-checked a sample of individual profiles with public biographical sources, company histories, and media coverage. This was done to account for edge cases, such as founders who built businesses from inherited seed capital or billionaires with unclear wealth origins.

Sensitivity and Caveats

There are known limitations with billionaire wealth data. Forbes’ methodology excludes political or royal wealth (e.g. sovereign funds, monarchies), and private asset valuations, especially in emerging markets, can be imprecise. Net worth estimates are also subject to market volatility, meaning year-to-year comparisons can reflect asset price swings rather than underlying changes in wealth structure.